12:20 PM EST, 02/04/2025 (MT Newswires) -- (Updates with the latest stock movement in the first paragraph and additional detail.)

Estee Lauder ( EL ) shares were down nearly 17% in recent Tuesday trading after the company reported lower fiscal Q2 results.

The company reported fiscal Q2 adjusted net earnings Tuesday of $0.62 per diluted share, down from $0.88 a year earlier.

Analysts polled by FactSet expected $0.32.

Net sales for the quarter ended Dec. 31 were $4 billion, down from $4.28 billion a year earlier.

Analysts surveyed by FactSet expected $3.98 billion.

For fiscal Q3, the company expects adjusted EPS between $0.20 and $0.30. Analysts polled by FactSet expect adjusted EPS of $0.63.

The company also said Tuesday it expects to eliminate 5,800 to 7,000 job roles as part of a restructuring plan.

Price: 68.98, Change: -13.79, Percent Change: -16.66